Founder Of Balleo Engineering Phumzile Skosana Shares Why Entrepreneurs Shouldn’t Be Using Business Money For Personal Stuff
Founder Of Balleo Engineering Phumzile Skosana Shares Why Entrepreneurs Shouldn’t Be Using Business Money For Personal Stuff. South African entrepreneur and founder of Balleo Engineering Phumzile Skosana took to Twitter to share why entrepreneurs shouldn’t be using business money for personal stuff.
The post read, “You can’t be using business money for personal stuff. I learned this as a kid selling sweets at school, you start with 1 packet of sweets & the aim is to buy 2 packets the next time you stock. So you can’t buy Mayo with profits. Keep business & personal finances separate.” A lot of businesses have been shut down due to the mismanagement of funds, when an entrepreneur isn’t disciplined about the money of the business, they will not see the importance of actually separating business money and personal money. Doing this can help the business in a tremendous way as all the money that the company makes will be accounted for and allocated properly so that the company can continue functioning effectively.
By practicing this, Skosana was able to build a successful and sustainable Engineering company that has managed to stay afloat through its existence. Skosana was able to make sure that she allocates her finances properly so that she can be able to keep the business open. Money is a very important component that keeps a business running as the company can, order its stock, pay its staff and and allocate a proper marketing budget, this can only be done if the finances are handled properly.
Balleo Engineering (Pty) Ltd is a Mechanical Engineering Company based in Middelburg, Mpumalanga. It is the supplier of quality fluid conveyance products and solutions such as Pumps, Valves and Pipes. Balleo Engineering provides services to Power Stations, Mines, Process Plants and the Municipality. It aslo provides professional services to clients by developing the state of the art solutions to meet their objectives within the budget, time and quality framework for their requirements.
